Thursday, March 7, 2013

Taxes slashed on importing pick-up trucks


Thursday, 07 March 2013 17:01 Khin Myo Thwe

Toyota Hilux - pick up truck

Myanmar’s Ministry of Commerce has announced that certain models of pick-up truck can henceforth qualify as “commercial vehicles” and be imported at a significantly lower rate of tax. The models that qualify were not confirmed.

“Previously, pick-up trucks could only be imported as passenger cars with 80 percent tax levied on their arrival in Myanmar,” said Kyaw Min Naing, the Deputy Director of the Ministry of Commerce. “As from March 1, since many of these vehicles can operate as commercial vehicles [taxis, buses, trucks for carrying goods], a tax rate of just 5 percent will be imposed.”

According to Myat Ko, a car showroom sales manager in Yangon, pick-up trucks [such as the popular Toyota Hilux and Tacoma models, and the Isuzu 2-door pick-up] are classified as commercial vehicles in neighboring countries, such as Thailand, where many rural people use them for carrying agriculture products to and from markets. “Likewise, rural people in Myanmar will be thankful for this new ruling,” he said.

A brand-new pick-up truck from most of the Japanese manufacturers usually retails for between $15,000 and $17,000.
Related articles:
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  2. Ford motors into Myanmar
  3. Car prices fall ahead of expected market deregulation

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